Chinese Economics Thread

[B.I.B.]

Australia are you there ?. Anybody know how big is this mine compare to the Australian one ? Seem like 60% of China capacity large mine deposit

https://twitter.com/i/web/status/1355509867126149121

FREETOWN, Jan. 30 (Xinhua) -- The first shipment of iron ore from Sierra Leone's New Tonkolili Iron Ore Project set sail for China from the country's Pepel Port on Friday.

The shipment was the first batch of products from Sierra Leone's New Tonkolili Iron Ore Project invested and operated by Kingho Investment Company Limited, a Chinese-owned private company.

Zhao Ting, Chief Executive Officer of the company, said the project, which started in September 2020, covers an area of 408 square kilometers with a resource capacity of 13.7 billion tons, adding that the project is equipped with a complete railway and port logistics transportation system.

The whole industrial chain of raw ore mining and processing, shipping and sales has been completed in the first phase of the project. The company will also start construction of a primary magnetite ore concentrator and an iron and steel industrial park for mining, dressing and smelting in the second and third phase of the project respectively, said Zhao.

"The project will not only inject impetus into the development of Sierra Leone's national mining and iron and steel industry, but also help the development of China's iron and steel industry and enhance the friendship between the two countries," Zhao said. Enditem

Compare to the world Iron ore capacity seem very large

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Top five iron ore mining companies of Australia profiled​

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By

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24 Jul 2020

Holding the richest and largest estimated iron ore reserves in the world at 52 billion tonnes, with Russia (25 billion tonnes), Brazil (23 billion tonnes) and China (21 billion tonnes) way behind, it follows that Australia is home to some of the world's top mining companies

Iron Ore Rocks - Outback Australia (Credit: Adwo/Shutterstock)
With 30% of the world’s estimated 170 billion tonnes in its backyard, iron ore forms a central pillar of the

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Most of the country’s iron ore is located in Western Australia, which stood second in terms of global iron ore production, with three of the top five iron ore

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hailing from this state. The top two hail from Melbourne.
Only China outstrips Australia it in terms of total volume, but its iron ore is predominantly used domestically and typically of a low grade. This has made Western Australia the world’s largest supplier of global seaborne iron ore, along with being the main exporter to China.
A forecast by the Government of Western Australia estimated the state’s iron ore supply in 2019 to be about 878 million tonnes.

Does this mean Australian ore exports have peaked and from here on in we will see a gradual decline? It will be interesting to read about in the next few months.

 

[gelgoog]

I think even if China didn't get alternative iron sources they would eventually decrease steel production. There will come a time when most of the infrastructure will have been built and steel requirements will decrease I think.
Right now China is still in the process of building large amounts of high-speed rail and the like but if were we talking about other countries they would have likely stopped investing in high-speed rail already.

 

[j17wang]

I think even if China didn't get alternative iron sources they would eventually decrease steel production. There will come a time when most of the infrastructure will have been built and steel requirements will decrease I think.
Right now China is still in the process of building large amounts of high-speed rail and the like but if were we talking about other countries they would have likely stopped investing in high-speed rail already.

I think the only way steel production tapers off is when urbanization hits 80-90%. That means we should plateau over 2030-2035.

 

[Dolcevita]

First Hualong One nuclear reactor starts commercial operation​

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[NiuBiDaRen]

 

[Nobonita Barua]

View attachment 68189

Liberty of laws, en"force"ment of laws, to enjoy hard work & not to steal from others like colonial bred native America looters freeloading dodos. What laws do they have in The Unlimited Stri-ppers?

 

[localizer]

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Wow they're worried about a Chinese stock bubble? But they don't think it's a bubble at home?
Chinese stocks haven't grown in like a decade. It's underpriced.

 

[Skywatcher]

At least historically, the Chinese stock market bears even less of a relationship to the actual Chinese economy than its American counterpart to the American economy (see the stock market crash in 2016, or was it 2015?),

 

[ZeEa5KPul]

At least historically, the Chinese stock market bears even less of a relationship to the actual Chinese economy than its American counterpart to the American economy (see the stock market crash in 2016, or was it 2015?),

Stock markets are casinos. Doesn't matter where they are.

 

[Dolcevita]

The documentary series "Poverty Reduction in China: A New Dawn”, was directed by Fujita Sumio and produced by China Review Studio.

Episode 1-3